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US launches campaign to sever Iran’s economic ties with sanctions
Treasury Secretary Scott Bessent said each identified violator will get a deadline to cut ties or face US sanctions, with deadlines varying by case.
The US Treasury announced an “Operation Economic Outcast” campaign aimed at isolating Iran through sanctions, with Treasury Secretary Scott Bessent saying the goal is to “sever every economic lifeline” that sustains Iran’s government.
Bessent said the US would target any country or entity that facilitates transactions linked to Iranian oil and repression, and he stated that no one is above the reach of US sanctions. He also said the US had identified those continuing to deal with Iran and that each violator would be given a deadline to cut ties or face further measures.
He noted the deadlines would depend on individual circumstances and warned that entities facilitating money laundering for Iran would be removed from the US dollar system. Bessent added that the US has begun contacting world leaders with requests to stop interactions with the regime.
The announcement comes as China, Iran’s biggest trading partner, has signaled resistance to US economic pressure to cut links with an ally, and Iran has vowed retaliation against any country that participates in the US-led isolation effort.